Solana Friend.Tech Clone Nears $1M Volume Within A Week Of Launch

Friendzy records massive onchain activity within a week of its launch, in spite of Solana’s cold DeFi activity.
Solana Clone Nears 1M Volume Within a Week of Launch

Friendzy, a like application on Solana, has reached nearly $1 million in volume within just a week of its public launch on September 19. 

The activity on the clone has swelled, with it claiming to have generated over $920,000 in cumulative volume since its launch last week. 

Friendzy’s website displays that a number of keys are being bought and sold by users within a minute. The decentralized social platform offers 4% royalty on each transaction, which goes to creators. 

M6JVb37xwARqYH0yHj2 8i4ye98M9tZj XOqNwuB0 uPL 30dA4Xio0H
Friendzy – Platform Activity

Friendzy users can link their Twitter account to create their key on the platform, which is later bought by other users in order to interact. These keys could be sent to any other wallet.

The recently boomed decentralized social application has opened up a new primitive in DeFi with several similar applications launched on different chains. Alpha, the on Bitcoin, which has also gained significant traction in a short span of time since its launch.

Solana’s DeFi ecosystem has diminished significantlycantly following the collapse of FTX exchange which had major investment and backing for the “so called ETH-killer” layer 1 network. Solana TVL topped to over $12 billion in November, 2021 which is currently at $995 million, according to data from DeFiLlama.

Also Read: Arbitrum Moves $59M Of Unclaimed Tokens To DAO Treasury

Related Posts